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Shelly Ehler got the idea for her business while holding a towel in front of one of her children so he could change clothes after swimming at the pool. "I remember thinking, I wish there were something I could put over them and they could change on their own," she said. That inspiration led her to create the ShowNo towel, and she has since received funding from one of the investors on the TV show "Shark Tank."

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A childhood spent on the beaches of South Africa inspired Steve Watts to start a business selling "handboards," which are meant for bodysurfing. One of the company's major challenges has been to make consumers aware of the product without spending a fortune. Slyde Handboards has made that happen by marketing on social media, creating a brand ambassador program and appearing on TV show "Shark Tank."

Susan Petersen came up with the idea for Freshly Picked, which makes soft leather moccasins and shoes for babies, while raising two children in Utah. The company has since appeared on TV show "Shark Tank" and gotten into stores such as Nordstrom. "The goal was always to create an e-commerce business, but I had no idea what I was getting into," said Petersen, who is looking to expand her business into other categories.

Julie Busha wasn't able to land an investment for her condiment company on TV show "Shark Tank." But Busha says her business has continued to grow. "I've learned that you should never let someone else's inability to see your value determine your worth," she says.

Ring, maker of a mobile-connected video doorbell, flopped on "Shark Tank" but went on to get $28 million from investors, including Richard Branson. Still, the company's "Shark Tank" pitch illustrates the value of doing a product demo and understanding what investors are looking for. "There is nothing like an investor seeing or feeling what you do," said Ring founder James Siminoff.

Publicity can succeed in raising demand, but increased demand can mean unexpected challenges. "If you keep people informed of their order status they are happier, regardless of [whether] it's delayed," said Rebecca Rescate, who built up an order backlog after her feline toilet-training kit appeared on TV show "Shark Tank."